110 STAT. 4120 PUBLIC LAW 104-333 —NOV. 12, 1996 (3) FEDERAL LANDS OR INTEREST THEREiN.The term "Federal lands or interests therein" means any lands or properties owned by the United States (A) which are administered by the Secretary, or (B) which are subject to a lease to third parties, or (C) which have been made available to the Secretary for exchange under this section through the concurrence of the director of the agency administering such lands or properties: Provided however, That excluded from such lands shall be those lands which are within an existing conservation system unit as defined in section 102(4) of the Alaska National Interest Lands Conservation Act (16 U.S.C. 3102(4)), and those lands the mineral interest for which are currently under mineral lease. (4) KONL^G.— The term "Koniag" means Koniag, Incorporated, which is a regional Corporation. (5) REGIONAL CORPORATION.The term "Regional Corporation" has the SEime meaning as is provided in section 3(g) of the Alaska Native Claims Settlement Act (43 U.S.C. 1602(g)). (6) SECRETARY.— Except as otherwise provided, the term "Secretary" means the Secretary of the Interior. (7) SELECTION RIGHTS. —The term "selection rights" means those rights granted to Koniag, and confirmed as valid selections (within Koniag's entitlement) pursuant to subsections (a) and (b) of section 12, and section 14(h)(8), of the Alaska Native Claims Settlement Act (43 U.S.C. 1611 and 1613(h)(8)), to receive title to the oil and gas rights and other interests in the subsurface estate of the approximately 275,000 acres of public lands in the State of Alaska identified as "Koniag Selections" on the map entitled "Koniag Interest Lands, Alaska Peninsula", dated May 1989. (b) VALUATION OF KONIAG SELECTION RIGHTS.— (1) IN GENERAL. — Pursuant to paragraph (2) of this subsection, the Secretary shall value the Selection Rights which Koniag possesses within the boundaries of Aniakchak National Monument and Preserve, Alaska Peninsula National Wildlife Refuge, and Becharof National Wildlife Refuge. (2) VALUE. — (A) IN GENERAL. — The value of the selection rights shall be equal to the fair market value of— (i) the oil and gas interests in the lands or interests in lands that are the subject of the selection rights; and (ii) in the case of the lands or interests in lands for which Koniag is to receive the entire subsurface estate, the subsurface estate of the lands or interests in lands that are the subject of the selection rights. (B) APPRAISAL. — (i) SELECTION OF APPRAISER.— (I) IN GENERAL. —Not later than 90 days after the date of enactment of this section the Secretary and Koniag shall meet to select a qualified appraiser to conduct an appraisal of the selection rights. Subject to subclause (II), the appraiser shall be selected by the mutual agreement of the Secretary and Koniag. (II) FAILURE TO AGREE.—If the Secretary and Koniag fail to agree on an appraiser by the date
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